1) Please, could anyone bail me out by explaining to me the concepts and functionalities of:
* Reporting Currency as opposed to Foreign Currency
* Multi Reporting Currency
* Reporting Sets of Books
* Primary SOB
I would really appreciate a real life example linking all the above concepts.

2) How many Reporting Sets of Books can we attach to a Primary SOB?

3) Are these concepts and functionalities equally apply to ledgers under Oracle Apps R12, since we do no longer talk about SOB in Oracle R12?

4) Does Multi Reporting Currency fit into Oracle Multi Organisation concept?

Thank you in advance for your help.

Lets keep things simple.
You have a primary ledger.
You can attach reporting currencies (reporting ledgers) to your primary ledgers.
Reporting ledger differs in "currency" with primary ledger.
When journals are posted in primary ledger they are automatically mirrored to your reporting ledgers as well using predefined exchange rates.
Now you can do reporting in both currencies: in functional currency through primary ledger, and in your reporting currency through you reporting ledger.
I hope that helps you clarify basic concepts.
Hasan

Thank you Hassan. I have got it. You you cover these topics later on in GL tutorials?